Let's say that we are talking about a park: -Originally built in the 60's -On city water with galvanized steel water lines -On city sewer with tile sewer lines-Has some vacant lots but meets your criteria of not being a large infill project -Something that could get a good bounce from tightening expenses/raising revenue-But has some deferred maintenence issuesAssuming all other things would be the typical scenario that you would encounter on your deals Jim and Matt:1.

I was very interested about this question after a couple of meetings with local Disabled Society and to my mind,  NYC is a leader in this trend.

As soon as I saw this thread trending, I knew a certain someone would be in here with the "forget the LLC" babble.I needed a good chuckle. 

They will be built with a brick front but typically a steel side and rear wall.  

The property is higher end with bamboo floors, stainless kitchen, butcher block/steel covered bar, separate studio office/building, and a 7 person sunken hot tub.  

*GASP* Not 1 anecdote does a trend make, but there are more now than there were..

They take things like market trends, local sales, and comparable listings in the area and generate a price to give one an opinion of value for the property.While it is a cool tool and works in some areas, I recommend not paying too much attention to it.

Be sure to Calculate your Returns and make sure they are numbers you're happy with.And you might also check the trends in land value over time in the neighborhood.

I'm curious why this trend is beginning to occur.Why are more lenders requesting insurable value?

This town is not like most of the rest of the Midwest - but of course, you are in California, so more local trends are probably less easy to spot.